South Korean Shares
Climb 1.8% to Record

Main Stock Index Benefits
From Spending Optimism
And Decline in Oil Prices

A Wall Street Journal News Roundup

Updated Sept. 8, 2005 12:01 a.m. ET

SEOUL, South Korea -- South Korea's key stock index rose to a record, as a drop in oil prices, stronger cues from the U.S. markets and improving optimism for a steady recovery of local consumption lifted investor confidence and sparked broad-based buying.

The Korea Composite Stock Price Index, or Kospi, gained 1.8% or 20.34 points, to 1142.99, passing the previous record of 1138.75 set Nov. 8, 1994.